<div class=newsTextDataWrapInner><p>SINGAPORE (Sept 10): Global Logistic Properties is down 1% at $2.06 on Thursday, as investors are apparently not impressed with a series of deals to lease out space in China announced by the warehouse services provider this week.</p></div>

<div class=newsTextDataWrapInner><p>GLP announced after market closed on Wednesday that it has signed contracts with five customers to lease out 90,000 sqm space in China.</p></div>

<div class=newsTextDataWrapInner><p>The announcement comes after a separate statement Monday announcing contracts to lease out 126,000 sqm space.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>Investors remain nervous about the economic outlook in China, and have been selling shares of companies with large exposures to the world's second-biggest economy.</p></div>


SINGAPORE (Sept 10): Global Logistic Properties is down 1% at $2.06 on Thursday, as investors are apparently not impressed with a series of deals to lease out space in China announced by the warehouse services provider this week.

GLP announced after market closed on Wednesday that it ha...

GLP falls despite recent China contracts

At least eight major distressed Chinese firms, including a China Evergrande Group unit, are set to defend themselves in court cases relating to their debt problems over the next two weeks, in one of the busiest stretches ever for such hearings.

Distressed Chinese companies face flurry of court hearings

South Korean authorities investigating impeached President Yoon Suk Yeol attempted to enter his residence on Wednesday morning in a new bid to arrest him over insurrection accusations related to his Dec. 3 martial law declaration.

South Korean authorities try anew to arrest impeached President Yoon

Asian stocks were poised for a steady open following a tepid US session as traders await key inflation data that may shed light on the path of Federal Reserve rates over the coming months.

Asian traders tread with caution ahead of US CPI data

Salaries in Malaysia projected to increase by 5% in 2025 — Mercer

French Prime Minister Francois Bayrou on Tuesday opened the door to renegotiating a disputed pension reform in a bid to win over left-wing lawmakers he needs to pass the 2025 budget.

Bayrou's concession underlined the scale of France's political turmoil as he prepared to spend his first weeks in office reworking the hard-won 2023 pension reform under pressure from the left, which threatens to topple his government otherwise.

French PM opens door to renegotiating Macron's pension reform

Meta Platforms Inc is cutting roughly 5% of its staff through performance-based eliminations and plans to hire new people to fill their roles this year, according to an internal memo sent to all employees.

Meta to slash roughly 5% of staff, targetting lowest performers

Nato countries will deploy frigates, patrol aircraft and naval drones in the Baltic Sea to help protect critical infrastructure and reserve the right to take action against ships suspected of posing a security threat, alliance members said on Tuesday.

Nato to deploy ships, aircraft in Baltic Sea after cable breaches

Malaysia welcomes companies from the United Arab Emirates (UAE) to invest in Malaysia involving renewable energy (RE) projects, including data centres, said Prime Minister Datuk Seri Anwar Ibrahim.

Malaysia welcomes UAE companies to invest in renewable energy, data centre projects — PM 

Malaysia’s unique position has helped the country to chart economic policies which are comprehensive and sustainable, said Prime Minister Datuk Seri Anwar Ibrahim.

He said Malaysia is fortunate as it is politically stable despite being multi-cultural, multi religious, multi-racial, and it is probably among the most peaceful country in the region and is also among the fastest growing economies in the world.

Malaysia’s unique position helps to chart economic policies which are comprehensive, sustainable

Malaysia must embark on a digital transformation within its economic and financial sectors, prioritising areas such as blockchain and cryptocurrency to remain at the forefront of the digital age, said Prime Minister Datuk Seri Anwar Ibrahim.

Malaysia must embrace digital transformation to stay ahead, says Anwar

<p>Here is a brief recap of some business news and corporate announcements that made the headlines on Tuesday.</p>


Yinson, Mah Sing, YTL Power, Atlan, Sunway, Kawan Food, Theta Edge, South Malaysia Industries

<p>Prime Minister Datuk Seri Anwar Ibrahim said he believed issues related to Petroliam Nasional Bhd (Petronas) and Petroleum Sarawak Bhd (Petros) regarding gas distribution rights in Sarawak had been resolved through a series of negotiations, including his meeting with Sarawak Premier Tan Sri Abang Johari Tun Openg.</p>


Anwar confident Petronas-Petros gas issue resolved

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<p>Loft Orbital raised US$170 million (RM765.89 million) in a funding round that will help the space infrastructure startup increase launch frequency and compete for contracts against aerospace juggernauts like Northrop Grumman and Lockheed Martin Corp.</p>


Space firm Loft Orbital raises US$170 mil to scale up launches

<p>Bank Islam Malaysia Bhd has signed a financing agreement worth RM105.2 million with Solar Voltech Sdn Bhd, a subsidiary of PDC Premier Holdings Sdn Bhd, for a solar generation project.</p>


Bank Islam, Solar Voltech ink RM105.2 mil solar financing agreement

<p>The Malaysian Anti-Corruption Commission (MACC) has thwarted a syndicate involved in corruption and money laundering activities, allowing public servants with bad debts to secure personal loans from local banking institutions.</p>

<p>Chief Commissioner Tan Sri Azam Baki said the MACC Anti-Money Laundering Division carried out the concerted effort with Bank Negara Malaysia and local financial institutions under "Ops Sky", which led to the arrest of 12 individuals on Monday.</p>


MACC busts syndicate giving loan approval for public servants with bad debts

<p>Powertechnic Group Bhd, which provides lifting systems as well as maintenance and repair services, on Tuesday (Jan 14) filed for an initial public offering (IPO) on the ACE Market of Bursa Malaysia to raise funds for marketing expenses and capital expenditure for automated machines.</p>


Overhead crane firm Powertechnic files draft prospectus for ACE Market IPO

<p>Meta Platforms Inc is cutting roughly 5% of its staff through performance-based eliminations and plans to hire new people to fill their roles this year, according to an internal memo sent to all employees.</p>


<p>Asian stocks were poised for a steady open following a tepid US session as traders await key inflation data that may shed light on the path of Federal Reserve rates over the coming months.</p>


<p>South Korean authorities investigating impeached President Yoon Suk Yeol attempted to enter his residence on Wednesday morning in a new bid to arrest him over insurrection accusations related to his Dec. 3 martial law declaration.</p>


<p>BMI, a Fitch Solutions company, projected Malaysia’s economy to be resilient in 2024, with a real gross domestic product (GDP) growth forecast of 5%, supported by robust investment and resilient consumption.&nbsp;</p>

<p>Although the GDP growth is forecasted to slow down to about 4.7% in 2025, this will still be in line with its pre-pandemic times, said country risk analyst Caroline Wong.&nbsp;</p>


BMI expects Malaysia’s economy to be resilient in 2024 at 5%

<p>At least eight major distressed Chinese firms, including a China Evergrande Group unit, are set to defend themselves in court cases relating to their debt problems over the next two weeks, in one of the busiest stretches ever for such hearings.</p>


<p>Capital One Financial Corp misled customers when it rolled out a new savings account with a higher interest rate it didn’t also give to existing savings accounts, the Consumer Financial Protection Bureau said Tuesday in a lawsuit against the bank.</p>


Capital One accused of misleading customers on savings rates

<p>Country Garden Holdings Co suffered another record loss in 2023 as one of China’s largest developers continues its lengthy restructuring process after defaulting on its debt.</p>


Country Garden posts another record loss on China housing slump

<p>Malaysia must embark on a digital transformation within its economic and financial sectors, prioritising areas such as blockchain and cryptocurrency to remain at the forefront of the digital age, said Prime Minister Datuk Seri Anwar Ibrahim.</p>


<p>Malaysia’s unique position has helped the country to chart economic policies which are comprehensive and sustainable, said Prime Minister Datuk Seri Anwar Ibrahim.</p>

<p>He said Malaysia is fortunate as it is politically stable despite being multi-cultural, multi religious, multi-racial, and it is probably among the most peaceful country in the region and is also among the fastest growing economies in the world.</p>


<p>Azerbaijan President Ilham Aliyev stated that a new world order is taking shape, and the world is at the beginning of this process.</p>


A new world order is taking shape — Azerbaijan president

<p>Wall Street's main indices opened higher on Tuesday, as investors assessed softer-than-expected producer inflation to gauge the Federal Reserve's monetary policy trajectory this year.</p>


Wall St opens higher after softer-than-expected producer price data

<p>Barrick Gold Corp said it’s suspending mining operations in Mali after the government started removing gold from the nation’s biggest mine in the latest escalation of a months-long dispute.</p>

<p>The world’s No 2 gold producer is stopping activity at the vast Loulo-Gounkoto complex, the firm said in a statement on Tuesday.</p>


Barrick suspends Mali gold operations as standoff escalates

<p>A committee to study amendments to the Contract Act 1950 (Act 136) has been set up to conduct a comprehensive study of the Act, which was last amended in 1976.</p>

<p>The Prime Minister’s Department’s Legal Affairs Division said in a statement on Tuesday that the committee was set up with the assistance of Monash University and Universiti Kebangsaan Malaysia (UKM), and will be chaired by Federal Court judge&nbsp;Datuk Vazeer Alam Mydin Meera.</p>
